An otherwise strong earnings season for India’s companies is proving just not good enough for some, after a surprise loss by the country’s biggest bank renewed worries over credit quality.

State Bank of India’s December-quarter results spurred Motilal Oswal Securities Ltd. to pare its earnings per share estimate for NSE Nifty 50 Index firms by 3 per cent for the current fiscal and by 0.6 per cent for the financial year starting April 1.

Central trade unions in coal sector opposed opening up of commercial coal mining for private sector after the Union Cabinet on Tuesday approved the methodology for auction of coal mines for sale of coal.

"We oppose the move as the decision was taken arbitrarily without discussing with us. We will soon come out with a decision," said the RSS-backed Bhartiya Mazdoor Sangh affiliated Akhil Bhartiya Khadan Sangh President Brajendra Kumar Ray said.

The bids of both Numetal, a company having VTB Bank as a majority shareholder and the Ruias as a minority partner, and ArcelorMittal for Essar Steel have failed the eligibility test of the legal advisors appointed by the resolution professional as both bidders had connections with non-performing assets (NPAs) in India.

The resolution professional could seek another legal opinion or approach the National Company Law Tribunal on the point of law.

The National Association of Software and Services (Nasscom), the industry body of the Indian IT and business process management (BPM) sector, on Tuesday said the country’s IT exports could grow between 7 and 9 per cent in 2018-19.

"We estimate a 7-9 per cent growth rate in IT and IT-enabled services for 2018-19. Domestic revenues may grow slightly higher at 10-12 per cent, while exports, the mainstay, may lag in 2018-19," R Chandrashekhar, Nasscom president, told reporters here at its annual India Leadership Forum.

RIL on Tuesday said it will acquire 5 per cent stake in NYSE listed Eros International for Rs 10 billion with a view to producing and acquiring Indian films and digital originals across all languages.

Reliance Industries Limited (RIL) and Eros International Plc announced that RIL, through a subsidiary, "has agreed to subscribe to a 5 per cent equity stake" in Eros at a price of $15 per share, the company said in a statement.

The popular cryptocurrency Bitcoin was trading at $11,252.44 on CoinDesk’s Bitcoin Price Index (BPI) today in India, at the time of writing the report. Bitcoin reached $11,640.18 earlier on Tuesday. In February earlier this year, popular cryptocurrency declined below $6,000 level for the first time since month of November. In mid-November last year, Bitcoin hit $20,000 level. However, once again, the popular cryptocurrency has recovered and is trading above $11,000.

Wipro consumer care and Lighting has launched Wipro Z Nxt, an integrated home automation solution. The system helps user get the complete control of the house/office components with the help of their smartphones. It integrates easily with all the home appliances without replacing the existing switches and wires. All electrical appliances can be easily controlled from an android/iOS app, a remote controller and through voice recognition.

Idea Cellular, the third biggest Indian telco, has silently refreshed the Rs 149 recharge plan that now offers additional validity to the customers. The Idea Rs 149 recharge plan now comes with a 28-day validity offering 1GB data, unlimited local, national, and roaming outgoing calls, and 100 SMSes per day. Earlier, this pack provided the same benefits but only for 21 days. However, the Idea Rs 149 recharge pack is available to select customers in select circles.

Mortgage major HDFC has disbursed Rs 28 billion loans to 14,290 home-buyers under the Pradhan Mantri Awas Yojna (Urban) so far, which entails a Central subsidy of Rs 3.02 billion.

The Modi government had launched the housing for all by 2022 in June 2015 and the disbursement is from that period.

Microsoft has announced that it is ending support for all push notifications for Windows Phone 7.5 and Windows Phone 8.0 devices starting from Tuesday. “Windows Phone 7.5 and Windows Phone 8.0 have reached their end of support dates and thus services for these versions of Windows will be discontinued over time,” the company wrote in a blog late Monday.

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